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1402 Maxwell Lane Upland, CA 91786

3 Beds 2 Baths 1,150 sqft Built 1974

$355,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $308.70
  • 5 Days on Market
  • MLS # : CV21033720
  • Updated Date : 02/19/2021 at 08:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,150 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Leaders

Listing Agent's Description

Great starter home for 1st time buyers or income property, home needs some TLC home features 3-bedroom 2-bathroom good size enclosed patio, 1 car garage and 1 outside parking spot, community pool, indoor laundry, shutters in the living and kitchen window.

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MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)

PRICE & RENT TRENDS

Neighborhood: Upland

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k642k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Upland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822575

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Upland Junior High School Middle Regular 877 38 3
Upland High School High Regular 3,456 137 7

Upland Junior High School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 38
3
GreatSchools Rating

Upland High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 137
7
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,233
Property Tax -$343
Property Insurance -$55
HOA -$300
Property Management Fees -$119
CASH FLOW
-$30

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$355,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,647

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,020

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0203$2,1004$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1402 Maxwell Lane Upland, CA 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.76
    •  
  • 1334 N Elderberry Avenue Ontario, CA 1
    • 3 beds 3 baths ∙ 1,246 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,246 Sqft ∙ Built 1976
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.60
    •  
  • 484 Corte Verde Upland, CA 3
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1982
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.52
    •  
  • 1513 W F Street Ontario, CA 4
    • 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 537 W J Street Ontario, CA 5
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
PROPERTY LISTING DETAILS
Monique Tartamella
Coldwell Banker Leaders
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21033720
Last Updated: 02/19/2021
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